The Federal Reserve Board has named ten new members to its Consumer Advisory Council for three-year terms and designated a new Chair and Vice Chair of the Council for 2010.
The Council advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services. The Council meets three times a year in Washington, D.C.
Michael D. Calhoun was designated Chair; his term on the Council ends in December 2010. Mr. Calhoun is the President of the Center for Responsible Lending in Durham, North Carolina, a nonprofit research and policy organization focusing on consumer lending issues.
Jim Park was designated Vice Chair; his term on the Council ends in December 2011. Mr. Park is the chief executive officer (CEO) of New Vista Asset Management in San Diego, California, which provides community-focused real estate owned (REO) disposition services and works to turn foreclosures into affordable housing options for minority and low- and moderate-income families.
See press release for full detail.